Step 1: Define reductant.
The reductant is the species that is oxidised, meaning its oxidation number goes up as it loses electrons.
Step 2: Track oxidation numbers.
Manganese in $MnO_4^-$ is +7 and drops to +2, so permanganate is reduced. Carbon in oxalate is +3 and rises to +4 in $CO_2$, so oxalate is oxidised.
Step 3: Pick the reductant.
The oxalate ion loses electrons, so it is the reductant.
\[ \boxed{C_2O_4^{2-},\ \text{option 3}} \]